Tesla Inc Chief Executive Officer Elon Musk informed workers on Thursday that he will boost scrutiny of the company’s expenses in his recent initiative to slash costs at the electric automaker. Tesla earlier this month shut down at a $2.7 billion offering of stock and convertible notes, providing it much needed cash as it increases […]
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Tesla to upgrade battery software after car fires
Car fire in Hong Kong being the most recent. Tesla Inc is set to update its battery software following two recent fires involving it’s Model S electric vehicles in Shanghai and Hong Kong, the American electric automaker stated on Thursday, adding that investigations into the incidents are continued. “As we keep investigating, out of an […]
Tesla electric car catches fire in Hong Kong parking lot
A Tesla Inc electric car caught fire in a parking lot located in a Hong Kong shopping mall, the Apple Daily newspaper reported on Tuesday. No one was injured in the accident, and the cause was not immediately known. The electric car burst into flames 30 minutes after it was parked in the city’s San […]
U.S. turns down Tesla bid for tariff exemption for Autopilot ‘brain’
U.S. trade officials turned down Tesla Inc’s bid for relief from President Donald Trump’s 25-percent tariffs on the Chinese-made Autopilot “brain” of its Model 3 among other electric automobiles, one of over 1,000 product denials associated with China’s industrial development plans. According to documents submitted by the U.S. Trade Representative’s office (USTR) and seen by […]
Elon Musk owes $507 million to banks helping Tesla raise capital
Tesla Inc CEO Elon Musk personally owes $507 million to Wall Street banks involved in Tesla’s stock and debt sale, supported by his stake in the electric car maker, a company filing revealed on Thursday. The lending was revealed in Tesla’s prospectus on Thursday to raise up to $2.3 billion with new shares and convertible […]
Tesla increases capital raise to $2.7 billion, Musk purchases more stock
Tesla Inc on Friday was set to boost up to $2.7 billion in a record-setting capital raising for the electric automaker, as investors scooped up a mix of new stock and convertible notes that are going to recharge the company’s cash-depleted balance sheet. The company stated in a filing that it had boosted its offer […]
Tesla cars and owners charged up for test drives in Buffalo
Drivers in the Buffalo Niagara region had the opportunity to zip around in a Tesla electric vehicle Saturday. Tesla Owners Club New York State and the electric automaker brought Model S, Model X and Model 3 vehicles to the parking lot near the Brennan’s Bowery Bar and Restaurant, 4401 Transit Road in Clarence for a […]
Tesla junk bond spreads broaden to a record after a big loss
Investors are asking for a record risk premium for holding Tesla Inc’s $1.8 billion junk bond after the automaker posted a $700 million first-quarter loss and indicated it may be in the market for more capital soon. The cost on Tesla’s 5.3% note due August 2025 slipped, prompting its yield to the highest in about […]
Tesla expects to have fully self-driving cars by 2020
Tesla expects to have fully self-driving cars in which humans won’t have to touch the steering wheel around the second quarter of 2020. The company made the declaration during an investor meeting at its Palo Alto, California, headquarters Monday, in which it highlighted its bold but risky bid to modify Tesla’s electric cars into driverless […]
Tesla investigates the apparent explosion of a parked car in Shanghai
Tesla has sent a team to investigate the explosion of one of its cars in Shanghai. Tesla stated Monday it immediately sent a team to probe an apparent explosion of one of its cars which took place in Shanghai on Sunday. No casualties have been reported at this time, the electric car company stated in […]
Tesla’s self-driving tech is ‘vastly ahead of everyone’, says Musk
Elon Musk thinks that Tesla is “vastly ahead of everyone.” Tesla CEO Elon Musk recently appeared on Lex Friedman’s Artificial Intelligence Podcast, where Musk spoke that how much longer people will be required to keep their hands on the wheel (“At least six months from here”) to what question would you ask of a very […]
Tesla and Panasonic to suspend spending on $4.5 billion Gigafactory
Tesla and Panasonic are freezing plans to boost the capacity of their Gigafactory 1, the largest EV battery plant of the world, as concerns mount on Wall Street regarding sales at Tesla dipping below estimates. The partners had planned to increase capacity 50% by next year, but with sales of electric vehicles performing less than […]
Tesla Model 3 will now cost more than $35,000
Tesla has modified the Model 3 lineup and increased prices because of newly standard Autopilot and removing the least costly Standard Range model from its online ordering The Standard Range car, is now going to cost more than the originally announced $35,000 base price ($36,200 with destination), now would be available only by special order. […]
Tesla starts offering leases for Model 3
Tesla Inc on Thursday started leasing out its Model 3 sedan in the United States, in a financing option that would boost the automaker’s client base. Tesla stated its clients in the United States would be able to lease any Model 3 variant for a small down payment and monthly payments thereafter, however, they will […]
Tesla, Panasonic to seek gains before more battery investments
Panasonic and Tesla will keep making new investments in the U.S. automaker’s Gigafactory as needed, but believe they can squeeze more out of present resources than earlier planned, Tesla stated on Thursday. Separately, Panasonic stated it was observing the demand situation in the electric auto market before making any further investments in boosting the capacity […]
